Costa Rica Blog

Here's a few highly discounted properties we've been offered in Costa Rica, either bank owned, foreclosed upon or by distressed sellers who need to get out right away. It's not that often that we come across really discounted property in Costa Rica.

People often ask me why I recommend living in Costa Rica, or any foreign country for that matter. There are a lot of Americans living in Costa Rica, both working there for multinational companies as well as a large retirement contingent. Living in a foreign country, whether in Costa Rica or elsewhere offers some serious advantages that many people don't even know about.

Where to retire? As an American baby boomer my choices are nearly endless. Like most others, I want a safe place with great health care options. I want easy access, low airfare and lots of airlines servicing the country. I also want a stable government, a healthy economy and great weather. I am personally planning to spend my retirement years living outside the US, as an expatriate. What's an expatriate you ask? Someone choosing to live outside their home country. Americans are leaving the US in record numbers. The value of the US dollar has been declining as the US continues to print money at a record pace. This dilutes the value of your savings if in dollars.

People have been getting quite a surprise when driving down the coast in southern Costa Rica. There among the toucans, sloths and macaws is another rare bird in this area, a cosmic bowling alley. The Costa Ballena region has been amazing people with its bio diversity for years. But recently some new inhabitants have appeared, causing a migration of a different sort.

Yup, just like I keep telling everyone, it's only a matter of time before everyone wants to be where we are. Travel and Leisure Magazine wrote this past month that the Bahia Ballena Coast is in the top two places to visit in 2013 and HGTV just showed up to our little town of Ojochal to film an episode of House Hunters International, trying to find the perfect home for a retiring north American couple looking for real estate in Costa Rica. The baby boomers are coming, we had 6 sales in the last two weeks and all our Costa Rica Property Tours are selling out.

Many of you readers may be unaware of a few provisions that were slipped into the HIRE Act signed by President Obama back in 2010. Two key elements seem more aimed at Americans living outside the US than at jobs creation but are having sweeping effect on all foreign investment options for Americans, whether living in the US or abroad.

Under the guise of improving employment opportunities, the FBAR (the Foreign Bank Account Reporting) Act and the FATCA (the Foreign Account Tax Compliance Act) have put tremendous international pressure on many foreign financial institutions, forcing them to become tax compliance offices of the US and IRS. Don't get me wrong, I am not a tax evader, nor a millionaire and most American citizens living abroad or simply with investments abroad are not tax evaders. The net result of these two new tools being used by the US government on every US citizen who owns any asset abroad should clearly be illegal and is a direct attack on our personal freedom as Americans. FBAR required the reporting of foreign bank account holdings, just as we all are required to report any income earned.

As I scour the internet for retirement options for baby boomers, I like to share what I have found. I'm sure many of you are aware that Kristina and I have traveled over much of the planet looking at living, investment, rental and retirement options for ourselves as well as our readers. We like to provide cost/benefit analysis for north Americans, mostly baby boomers, looking to diversify their savings and investment as well as searching for quality of life, life experience, lower cost of living in a healthy and safe environment. Our travels have taken us to some pretty unpalatable places but along the way we have also visited some places that left wonderful memories and many where I would have loved to own a home. Many places offer excellent adventure travel opportunities but would not be a place I would want to call home.

Chontales, Puntarenas Costa Rica - Pacific Lots of Costa Rica recently unveiled a new community development of 2 bedroom 2 bath model homes priced from $140,000 to $210,000 complete. The project, one of 17 built in Costa Rica by the developer, includes a community pool and gazebo style club house. This project is located in the incredibly stunning southern Pacific region of Costa Rica, just a few miles from the ocean. Homes feature granite counters, AC in both bedrooms, landscape and all site work. See www.PacificLots.com/Land-Home-Deal